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HP has confirmed to me that their $8.8 billion write-down related to Autonomy has a big time accounting scandal tied to it and Autonomy CEO Mike Lynch. According to a source close to HP, the Autonomy accounting scandal caused Autonomy to miss their numbers by 90% in the first quarter after HP paid $11 billion.

HP is not a company that is hurting financially. They are still generating billions in cash flow per quarter. Yes they are declining due to changing business conditions and changes in management, but this is still a big strong company. What's really happening is that HP is retooling their "growth and innovation" strategy in real time.

I see nothing but a positive out of this. HP is taking their medicine to flush the crap out of their system. Meg is a tech athlete ins this case a "boxer" taking it on the "chin". This is Round 1 of HP's biggest fight yet since early 1980s when Bill and Dave managed the company out of that big recession.